SUMMER INTERNSHIP

On

ACCOUNTING, AUDITING, ANALYSIS OF FINANCIAL STATEMENT AND

INTERNAL FINANCIAL CONTROL OF OXYZO FINANCIAL SERVICES
PVT.LTD

By

Akash Srivastava
A0101918255

MBA Class of 2019

Under the Supervision of

Ms. Tavishi
Assistant Professor

In Partial Fulfilment of the Requirements for the Degree of

Master of Business Administration
At

AMITY BUSINESS SCHOOL

AMITY UNIVERSITY UTTAR PRADESH
SECTOR 125, NOIDA - 201303, UTTAR PRADESH, INDIA
 DECLARATION

Title of Summer internship

…………………………………………………………………………………………

……………

I declare

(a) That the work presented for assessment in this summer internship Report is my own,

that it has not previously been presented for another assessment and that my debts (for

words, data, arguments and ideas) have been appropriately acknowledged.

(b) That the work conforms to the guidelines for presentation and style set out in the

relevant documentation.

(c) The Plagiarism in the report is ___________ % ( permissible limit is 15 % )

Date: ……………

Akash Srivastava
`A0101918255
MBA -General
ACKNOWLEDGEMENT
 CERTIFICATE

This is to certify that Akash Srivastava student of Masters of Business

Administration – General at Amity Business School, Amity University Uttar Pradesh
has completed the summer internship Report on “The Dimensions of Reverse Logistics:
A Study of the Indian Organized Retail Environment”, under my guidance.

The report has been checked for Plagiarism and is within limits of acceptance.

Ms. Tavishi

Assistant Professor
 ABSTRACT

Summer Internship is an important phase of a student life. A well planned, a well

evaluated and a properly executed summer internship helps the student a lot in
developing a professional attitude. Based on a broad understanding of process, a sense
of awareness of industrial approach to problem solving and the mode of operation of
an organization is developed. The aim and motivation of this Summer internship is to
receive skills, teamwork, discipline and the knowledge of the finance field through a
proper professional environment, which will help me further as a student in the
Finance field to develop a sense of responsiveness of the self-disciplinary nature of
problems in the Finance field.

During a period of 7 weeks (50 days) training at OFbusiness Tech PVT. LTD /
OXYZO Financial Services PVT. LTD, I was assigned four tasks, that was needed to
be completed during my Summer Internship at OXYZO Financial Services PVT. LTD
which are listed below :-

1. Accounting
2. Audit
3. Analysis of Financial Statements
4. Internal Financial Control

All these tasks assigned to me have been completed successfully and the results were
as per the expectations. I was assigned to different departments which included creating
and making the entries of the receipts and payments, creation of the interest invoices,
creation of journal vouchers, matching the clients bank statement with the our system
ledger and doing the reco, marking and mapping the disbursements, I gained the
knowledge on how to enter the data and analyse the data using different statistical and
accounting packages in Excel and Tally.

In conclusion, this was an opportunity to develop my skills and enhance my skills and
competencies in my career field which I actually achieved.
 INTRODUCTION

In today’s academic world of education it is not adequate to enable for a student to

compete and reach his/her goals with confidence and without having experience with
the professional world outside. In order to gain experience and have an idea, we the
students of AMITY BUSINESS SCHOOL have to undertake minimum six weeks of
summer internship program at any organization.

As a part of my Program, the seven week summer internship program that I went
through gave me the opportunity to learn and have an idea of the practical knowledge
on how the NBFC Industry performs. The assignment was how the NBFC Industries
perform its accounting procedures, how the analysis of financial statements is done
and how the internal financial control is managed and also to gain the practical
experience and knowledge on how these works are performed in corporations,
companies and non-profit making organizations.

Practical knowledge is essential to expand our theoretical base to face much more
challenging and complex business world in the challenging business areas. To gain
the practical knowledge and to learn the day to day Finance work that is being carried
out in the NBFC industry, I was with different tasks.

Through these daily assignments, I got an opportunity to observe and perform the real
world knowledge of Accounting, Analysis of Financial Statements and Internal
Financial Control, which is followed by the NBFC Industries. In this summer
internship period, I could relate all the theoretical knowledge of Finance which I have
studied to practical exposure.
 FIRM’S PROFILE

Profile of the firm :-

Name of the Firm : OFbusiness Tech PVT. LTD / OXYZO Financial Services PVT.

LTD.

Date of Registration :

Address: OFB Tech Pvt. Ltd./ Oxyzo Financial Services Pvt. Ltd.

#101, First Floor, Vipul Agora Mall, MG road,

Gurugram – 122001, India.

Phone Number: 1800-1029-586

Email Id: contact@ofbusiness.com

Website: www.ofbusiness.com

Background of the Firm :-

OFB Tech Private Limited operates an online marketplace for business-to-business

(B2B) ecommerce in India. The company’s solution facilitates suppliers and buyers to
do e-commerce transactions for products and services across mobile applications,
Websites, call centers, and offline sales teams. Its marketplace lists various attributes
of commerce to ease the buying decision for the buyer, such as price, quality ratings,
expert inputs, product usage instructions, supplier ratings and delivery timelines, as
well as aids commerce across social interactions, credit, and logistics. The company
was incorporated in 2015 and is based in Gurugram, India.

Vision :-

OfBusiness, believes in ‘opening the world of possibilities’ for the businesses in India
by leveraging technology. As an e-commerce company, OfBusiness aims to make
available, "Better products, at better prices, in better timelines."

Comittment :-

OfBusiness strives for hassle-free experience, so that buyers can focus on their core
business. OfBusiness has invested significantly in technology to help solve B2B
challenges such as logistics, credit and information flow. Some of the benefits offered
by OfBusiness to its buyers are: - Best Price – Optimized across location, logistics
cost and taxes, On time Delivery – OfBusiness manages end to end logistics and
leverage technology for tracking runtime, downtime and estimated time of delivery
and Credit Ecosystem – Enable channel credit through their partner NBFCs and
ensure secure payments.

OfBusiness' team has worked in India and around the world: managing the largest
factory floors, supervising industrial construction projects and helping build world-
class hospitals and clinics. OfBusiness has done their homework and know first-hand
what will delightcustomers.

Team :-
 INDUSTRY STUDY

Non-Banking Financial Companies (NBFCs)

As an important segment of Indian Financial System, Non-Banking Financial

Companies are emerging very fast. Other than the Commercial Banks and the Co-
operative Banks, it is a heterogenous group of institutions that is performing the
financial intermediation in a variety of ways, like making the loans and the advances,
accepting the deposits, leasing, purchase etc. Funds are raised by them from the
public, directly or indirectly and it is then lend to the ultimate spenders. Loans are
advanced to the various wholesalers and retail traders, self-employed persons and
small scale industries by the NBFCs. Thus the range of product and services offered
by a financial sector has been diversified and broadened. Due to the customer oriented
services, attractive rates of return on deposits and simplified procedures, NBFCs are
recognized as complementary to the banking sector.

Within the framework of Reserve Bank of India (RBI) Act 1934, the operations and
working of Non-Banking Financial Companies are regulated by the Reserve Bank of
India.

Non-Banking Financial Companies is defined by the RBI Act as :-

1. A Company which is a financial institution.

2. A company which is a Non-Banking Financial Institution and which has its
own principal business of the receiving of the deposits, in any other manner or
under any scheme or arrangements, or leading in any manner.

Types of Non-Banking Financial Companies registered with RBI :-

 Equipment Leasing Companies – Equipment Leasing Companies are any

financial institutions whose principal business is the financing of any activity
or that of leasing equipments.

 Hire-purchase Company – Hire-purchase Companies are such financial

institutions whose principal business is the financing of such transactions or
relates to the hire purchase transactions.

 Loan Company – Loan Companies are any financial institutions whose

principal business is to make advances or loans or any activity other than its
own for providing finance.

 Investment Company – It is any financial institution whose principal

business is the selling and buying of securities.
NON-BANKING FINANCIAL COMPANIES ARE DIFFERENT FROM
BANKS

 Demand deposits cannot be accepted by Non-Banking Financial Corporation

(Funds that are deposited in an institution, that are immediately payable on
demand is known as Demand Deposit).
 Cheques cannot be issued to their customers by a Non-Banking Financial
Company, and is not apart of settlement and payment system.
 In a Non-Banking Financial Company, for depositors the deposit insurance
facility of Deposit Insurance Credit Guarantee Corporation is not available.
